The holiday week saw a mixed performance in US markets, with spot declines at the close on Friday but solid weekly gains driven by a rally in technology stocks.
This phenomenon refers to the market’s tendency to increase during the last five business days of the year.
Reuters
Stocks fall this Friday on Wall Streetbut the main indices are still on track to close the short week in positive territory.
The Dow Jones Industrial Average loses 140 points and marks its first drop in six sessions. The S&P 500 fell 0.8%, while the Nasdaq Composite fell 1.3%, with Nvidia, Tesla and Netflix marking decreases of more than 2%.
Wall Street: what the market analyzes
Although trading has been subdued this week, investors expect stocks to rise heading into the new year, buoyed by the so-called “Santa Claus rally.” This phenomenon refers to the market’s tendency to increase during the last five business days of the year and the first two of January. Since 1950, the S&P 500 has generated an average return of 1.3% over this period, beating the seven-day average of 0.3%according to LPL Financial.
wall street markets bags
NYSE
“The nation is experiencing a collective sigh of relief after navigating a contentious election cycle and unusual market dynamics, closing out 2024 with strong year-to-date gains,” said Todd Ahlsten, chief investment officer at Parnassus Investments. “Looking ahead to 2025, markets are expected to expand and improve”.
In December, the Nasdaq is headed for a 4.2% advance, boosted by a jump in Tesla and Alphabet shares, plus a rally in Apple that has brought the iPhone maker closer to a market capitalization of $4 trillion. dollars. The S&P 500 shows a slight gain of almost 0.1% for the month. On the other hand, the Dow is on track for its worst month since April, down about 3.5%.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
